Empirical Research On The Value Relevance Of Employment Benefits' Information After The Revision Of The Employees' Salary Standard

In recent years,China's economy has developed rapidly.In the international competition of globalization,participation has increased,and enterprises have paid more attention to the absorption and cultivation of talents.At the beginning of 2014,the Ministry of Finance revised CAS No.9-Empolyee benefits.There has been a lot of research on the accounting information's value relevance of the revision of accounting standards in the academic circles.From 2014 to now,the value relevance of employee benefits' information to the revision of employee benefits standards is only limited to normative research,with little empirical research.Based on the theory,this paper first systematically expounds the possible reaction of employee benefits standards revision,and then through the analysis of the capital market data,to explore compare with before the revision of the standards,after the revision of the standards whether the value relevance of the remuneration payable to employees has been improved.This paper takes non-ST listed companies in Shanghai and Shenzhen A-share markets from 2012 to 2016 as research samples,using the normative research and empirical research,combining qualitative analysis with quantitative analysis method.Firstly summarizes and reviews the domestic and foreign research literature on the revised content of employee benefits in 2014 and the reacting of the market by the revisionof employee benefits standards.Secondly,based on the existing theory,the research hypothesis is put forward.From the Feltham-Ohlson model to test if the remuneration payable to employees,termination benefits,post-employment benefits have value relevance.Using DID model to test whether the revision of employee benefits standards has enhanced the value relevance of the remuneration payable to employees.Finally,expound the conclusions and shortcomings of this paper.This study shows that the remuneration payable to employees is of value relevance,and the revision of the employee benefits standards has improved this correlation.Post-employment benefits and termination benefits do not have value relevance.